Category Archives: People

Ratos: Jonas Wiström new CEO of Ratos, Per-Olof Söderberg new Chairman of the Board

Ratos

Press release 13 December 2017

This information is information that Ratos AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 7:45 a.m. CET on 13 December 2017.

Ratos’s Board of Directors has appointed current Chairman of the Board, Jonas Wiström, as the company’s new CEO as of 13 December 2017. In conjunction with this change, Magnus Agervald will step down from Ratos effective immediately. The Board of Directors has appointed Per-Olof Söderberg as the company’s new Chairman of the Board, and Jan Söderberg to the new position of Deputy Chairman. The Board’s assessment is that these changes are necessary to enable the company to create value.

“The Board is not satisfied with Ratos’s performance. To succeed in implementing the new strategic direction established during the year, we believe a different leadership is needed. We believe Jonas Wiström’s experience and leadership is more relevant for the updated strategic agenda. During its more than 150 years as a company, Ratos has continuously changed and reinvented itself, and this type of change is more necessary today than ever before,” says Per-Olof Söderberg, the company’s new Chairman of the Board.

“I look forward to taking on an operational role at Ratos. The Board of Directors and I believe in the new strategic direction. Now my goal is to work with Ratos’s organisation to figure out how to best implement it. The management teams and boards of the portfolio companies possess critical expertise that I also want to leverage to ensure better value creation for Ratos as a whole. My task is clear: to increase shareholder value,” says new CEO Jonas Wiström.

Chairman of the Board Per-Olof Söderberg, concludes:

“The Board also wants to extend its sincere thanks to Magnus Agervald, who left an important mark during his time at Ratos. He has cut the company’s operational administration costs, discontinued underperforming companies and completed an important platform acquisition.”

According to his employment contract, Magnus Agervald is entitled to a notice period of 12 months, which will be offset against any income earned from new assignments. A maximum total cost will be recognised in Ratos’s next interim report.

For further information, please contact:

Per-Olof Söderberg, Chairman of the Board of Ratos, +46 8 700 17 98
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98

Financial calendar from Ratos:
Year-end report 2017                                              16 February 2018
Interim report January-March 2018                         3 May 2018
Interim report January-June 2018                           17 August 2018
Interim report January-September 2018                  25 October 2018

Ratos owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.

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Henrik Blomquist leaves the board of directors of Lauritz.com Group A/S

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Bure

Henrik Blomquist has decided to resign from the board of directors of Lauritz.com Group A/S, effective immediately.

“I and two other board members have different views on how the company should be governed and managed, which caused us to make a decision today to leave the board effective immediately,” says Henrik Blomquist, CEO of Bure Equity AB.
Bure Equity AB (publ)
For more information contact:

Henrik Blomquist, CEO
Tel. +46 (0)8-614 00 20

Categories: People

Dame Amelia Fawcett proposed to be elected Chairman of Kinnevik

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Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that its Nomination Committee will propose the election of Dame Amelia Fawcett as new Chairman of the Board at the Annual General Meeting 2018.

Dame Amelia Fawcett has been a Director of the Board of Kinnevik since 2011 and has served as Deputy Chairman since 2013. She succeeds Tom Boardman who has decided not to stand for re-election at the Annual General Meeting 2018.

Cristina Stenbeck, Chairman of the Nomination Committee, commented:

“I am delighted that Amelia has accepted to be nominated for the role as Chairman of Kinnevik. Since her election in 2011, Amelia has been an active member of the Board. She has contributed her experience from leading global companies across multiple industries, including financial services, media and telecommunications. She also has led for many years the work of Kinnevik and its investee companies on governance, risk, compliance and remuneration, as a Board member and Chairman of relevant Board committees. I look forward to working even closer with Amelia in her role as Chairman.”

Cristina Stenbeck continued:

“On behalf of the Board and the Nomination Committee, I would like to extend our deepest gratitude to Tom Boardman for his significant contribution during his seven years on the Board of Kinnevik and his leadership during his last two years as Chairman.”

Dame Amelia Fawcett has been a Director of the Board of Kinnevik since 2011 and was appointed Deputy Chairman in 2013. She is also Chairman of the Standards Board for Alternative Investments, a Board Director of State Street Corporation in Boston, USA and Chairman of its Risk Committee, and a member of the Board of the UK Treasury. Dame Amelia is Deputy Chairman and a Governor of the London Business School, Chairman of The Prince of Wales’s Charitable Foundation and a Trustee of Project Hope UK. She held managerial positions within Morgan Stanley during 1987-2006 and was Vice Chairman and Chief Operating Officer of its European operations during 2002-2006. She was a Board Director of the Guardian Media Group during 2007-2013, and Chairman during 2009-2013. In 2010 she was awarded a DBE (Dame Commander of the British Empire) by HM Queen Elizabeth II for services to the financial services industry. She has a Law Degree from University of Virginia, USA, and a BA in History from the Wellesley College in Massachusetts, USA.

The Nomination Committee’s complete proposals will be announced in the notice convening Kinnevik’s Annual General Meeting to be held on 21 May 2018. The Nomination Committee comprises Cristina Stenbeck appointed by Verdere S.à r.l., Wilhelm Klingspor appointed by the Klingspor family, Edvard von Horn appointed by the von Horn Family, James Anderson appointed by Baillie Gifford, and Ramsay Brufer appointed by Alecta.  The five shareholder representatives on the Nomination Committee jointly represent approximately 60 percent of the votes in Kinnevik.

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 12.00 CET on 8 December 2017.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

Categories: People

HTL-Strefa strengthens Board of Directors with Rick Cook

eqt

HTL-Strefa is a fast-growing global med-tech company and pioneer in the medical sharps’ industry. The company is going through an exciting phase – transforming its commercial profile and execution capabilities, which has led to higher demand from customers. In order to fulfill the increased demand and to support the implementation of new investments in production, Rick Cook, former Global Head of Operations at Becton Dickinson, will join HTL-Strefa’s Board of Directors.

EQT V portfolio company HTL-Strefa is a global leading provider of proprietary capillary blood sampling and hypodermic injection devices. Global demographic megatrends, such as a growing number of insulin users and increasing need for safe point-of-care blood tests, underpin a solid underlying market growth for years to come. During EQT’s ownership, HTL-Strefa has embarked on a transformation journey from being a local manufacturer to a fully-fledged international medical device player.

Since the appointment of CEO Mikkel Danvold in January 2017 and the strengthening of HTL-Strefa’s management team, the top-line growth and earnings trajectory have been reinvigorated. The improved performance is the result of changing the commercial approach ensuring that customers and end-users are at the center of all decision-making. This approach has already led to a large number of new customers, an ongoing repositioning in the value chain, as well as implementation of multiple initiatives to ensure state-of-the-art commercial excellence and product innovation.

To meet the increased demand from both existing and new customers, HTL-Strefa is scaling up its organization and production capacity significantly. To support management in the implementation of the new expansion projects, Rick Cook will join HTL-Strefa’s Board of Directors. Rick has more than 30 years of experience in manufacturing and operations for Intravenous solutions and medical devices at all levels, from floor supervision to global operations leadership.

“As former Global Head of Operations at Becton Dickinson, Rick has a long track-record from leading large-scale projects within production and operations in the med-tech industry. Rick brings impressive experience which will be highly valuable to HTL-Strefa’s ongoing transformation. Supporting Mikkel and his team in implementing excellence in quality, service and cost from operations will bring competitive differentiation and enhanced value for customers”, says Gerard Van Odijk, Chairman of the Board of Directors at HTL-Strefa.

“I am honored to be asked to serve on HTL-Strefa’s Board of Directors. I look forward to helping Mikkel and the Operations team build upon the existing strong foundation and create a manufacturing culture and capability that will serve global customers of HTL with excellence in the exciting years ahead”, says Rick Cook, new Board Member of HTL-Strefa.

With the new commercial agenda being implemented, HTL-Strefa is uniquely positioned to further accelerate execution on the many top-line growth initiatives. The plan includes among other things a rapid channel expansion and launch of numerous new innovative products with distinct end-user benefits.

During EQT’s ownership, HTL-Strefa’s revenues have been growing at high single-digit rates and EBITDA margins have increased. With accelerated investments in product innovation and the implementation of an enhanced commercial strategy, growth has improved further to solid double-digit rates and are expected to continue to rise.

 

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Swedish technology entrepreneur Jakob Tolleryd joins Verdane

Verdane Capital

Verdane today announced it is welcoming technology entrepreneur Jakob Tolleryd to the team. Tolleryd brings invaluable experience, having founded, built and sold five technology companies the past 20 years, and will in his new position as partner help Verdane become the preferred partner to the management teams and owners of ambitious technology enabled growth companies.

“Verdane and I share the same investment philosophy, and have worked together in building several successful businesses over the years. Verdane stands out as the most attractive player in this market, and for me, after working together with the team for almost 10 years, joining them is the natural next step,” says Jakob Tolleryd.

Together, Tolleryd and Verdane have a long-standing and successful history of building fast-growing companies. In 2005, Tolleryd founded consumer finance comparison company, Compricer, which became part of Verdane Capital VII K/S’ (Verdane) portfolio in 2011, and was sold to Schibsted Media Group in 2013. The list of companies where Verdane and Tolleryd has joined forces also include companies such as MatHem, EasyArt and Desenio.

Tolleryd started his entrepreneurial career in 1996, and has since built an impressive track record founding companies such as Domain Network, Carambole, and Klikki, as well as Compricer and EasyArt. As part of the Verdane team, Tolleryd will contribute with his strong entrepreneurial background and experience from building fast-growing and profitable businesses.

“Verdane has a leading position within e-commerce and technology in the Nordics, having invested in companies such as newly listed Boozt, MatHem, Desenio, BabyShop and Outnorth. Among entrepreneurs, Verdane is considered a power house in this space, with its extensive network, in-depth expertise and experience in building tailored solutions to grow this type of businesses,” he says.

Over the past years, Verdane funds have invested in 158 companies within software and e-commerce, and have realised 96 companies. The current portfolio is on average growing with over 20% per year. According to Verdane’s managing partner Bjarne Lie, the addition of Jakob Tolleryd will position the company well to successfully source and execute more investments in this area.

“Digital transformation has been the main driver of the e-commerce boost over the past decade. Now, other and more mature industries will have to digitalise businesses and go-to-market models, creating opportunities for players with a tailored digital methodology and solutions. By welcoming Jakob Tolleryd to the team, Verdane confirms its leading position within this field of expertise,” he says.
For further information, please contact:

Bjarne Lie, bjarne.lie@verdanecapital.com or +47 918 15 508
About Verdane Capital Advisors and Verdane funds

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 28 employees working out of offices in Oslo, Stockholm, and Helsinki. More information can be found at: www.verdanecapital.com

Categories: People

Axel Bard Bringéus joins EQT Ventures

EQT Ventures

EQT Ventures has strengthened its team of investment specialists and operational experts with Axel Bard Bringéus, former Global Head of Markets at Spotify, joining the fund. Get to know Axel in this video and find out how he will help to identify fast-growing, innovative and tech-enabled companies for support and investment in Germany.

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IK expands its small cap strategy to the Benelux region – Hires Sander van Vreumingen as Benelux Small Cap partner

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, today announces that Sander van Vreumingen has joined as a Partner responsible for IK’s Benelux Small Cap team. 

IK has been present in the Benelux region since 1995 and has invested over €1bn into thirteen successful investments during this time. Within the mid cap space, IK has been one of the most active regional players with notable transactions including Vemedia, the market leader of OTC drugs, Magotteaux, the leading manufacturer of cast wear parts for the cement and mining industries and fund administrator Vistra, amongst many others. As IK now extends its small cap strategy, Sander van Vreumingen has been appointed partner and responsible for the Benelux Small Cap team.

Sander joins from Gimv, where he worked for over a decade, and prior to that at the Dutch investment firm Halder. He has substantial experience in the small cap segment, and has been involved in numerous transactions, including Mackevision, ALT, Arplas, Walkro, BMC, Oldelft, ARS Traffic & Transport Technology, Hebu and Geveke. Sander holds an MSc in Economics from Erasmus University Rotterdam.

IK’s Amsterdam office, which was established earlier this year, is led by Remko Hilhorst, Partner responsible for IK’s Mid Cap Benelux team. Remko Hilhorst has been with IK since 2001. Together, IK’s Small and Mid Cap teams will focus on investments with enterprise values of up to €500m, partnering with entrepreneurs who are looking for support to help them achieve the next stage of their company’s growth and development.

“Having both a mid cap and small cap practice operating on the ground will allow the firm to capitalise on the synergies which are present in the market and give the teams a superb investing platform from which to execute transactions,” said Remko Hilhorst, Partner at IK Investment Partners.

“Benelux is an important market for IK, offering many interesting investment opportunities in various sizes and sectors. Sander, with his wealth of experience and wide network of contacts in the region, is a great addition to our team to reinforce our strong position in Benelux. We are delighted to welcome him to the firm,” said Christopher Masek, Partner and CEO at IK Investment Partners.

“I am very pleased to join one of the most reputable private equity firms in the Benelux region. I look forward to working closely with Remko and the mid cap team whilst establishing a dedicated small cap team, in order to further enhance the firm’s existing success,” said Sander van Vreumingen, Partner at IK Investment Partners.

For further questions, please contact: 

IK Investment Partners
Remko Hilhorst, Partner
Phone: +44 207 304 4300

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Ratos AB: Daniel Juhlin appointed new CEO of Plantasjen

Ratos

Daniel Juhlin has been appointed new CEO of Plantasjen, the Nordic region’s leading chain for sales of plants and gardening accessories. Daniel Juhlin has extensive experience from the consumer goods and retail sector, most recently as CEO of Byggmax AB, which is part of Byggmax Group AB. He will assume the position in December this year.

Daniel Juhlin has more than 15 years of experience from the consumer goods and retail sector. He most recently served as CEO of Byggmax AB, part of Byggmax Group AB, prior to this he was deputy CEO of Byggmax Group AB and Head of Marketing- and IT/online. Earlier positions include CEO of Candyking Sverige AB and CEO of Friggs AB. He is 43 years old and holds a MSc in Industrial Management from the Royal Institute of Technology in Stockholm. Daniel will assume his position as CEO of Plantasjen in December.

“In recent years, Plantasjen has implemented a number of initiatives, such as the launch of small-format store concepts, changes to the supply chain and the acquisition of SABA Blommor AB. Daniel will contribute to Plantasjen’s onward journey through his previous experience from consumer product companies and working in sales development, operational improvements and e-commerce focusing on the customer. His background is suitable for Plantasjen’s plans to develop e-commerce solutions and thereby renew its customer offering with the goal of improving customer satisfaction,” says Magnus Agervald, CEO of Ratos and company executive of Plantasjen.

Plantasjen was acquired in 2016 and is the Nordic region’s leading chain for sales of plants and gardening accessories with around 120 stores in Norway, Sweden and Finland and a primary focus on consumers. Sales amounted to NOK 3,624m and adjusted EBITA to NOK 293m in 2016. 

For further information, please contact:

Magnus Agervald, CEO Ratos, +46 8 700 17 00

Hilde Britt Mellbye, Chairman of the Board Plantasjen, +47 997 16 617
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98

Financial calendar from Ratos:
Interim report January-September 2017       14 November 2017
Year-end report 2017                                    16 February 2018
Interim report January-March 2018               3 May 2018
Interim report January-June 2018                 17 August 2018
Interim report January-September 2018        25 October 2018

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.

 

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Johan Hjertonsson succeeds Jan Svensson as CEO for Latour on September 1, 2019

Latour logo

Jan Svensson, CEO for Investment AB Latour since 2003, will leave on August 31, 2019.

The Board of Directors in Latour has appointed Johan Hjertonsson new CEO for Latour with the beginning from September 1, 2019. Johan Hjertonsson, 49 years old, is since 2009 CEO for AB Fagerhult and has previously been the CEO for Lammhults Design Group AB, and has had a number of different leading positions within Electrolux Group within marketing and product development. Johan Hjertonsson is today board member of Sweco AB and Nord-Lock International AB among others.

“The Board of Latour is happy to announce that Johan Hjertonsson is appointed to be the next CEO of Latour. As the main shareholder, Latour has had the benefit to follow AB Fagerhult’s successful development under Johan´s leadership. Johan is a much appreciated leader with the ability to build successful companies in an international environment. Johan has all the qualities that are required to continue to develop Latour´s strategy as a long-term owner for companies with proprietary products with an increasing global presence,” says Olle Nordström, Chairman of Latour.

“It is with great joy and confidence that I have accepted the offer to lead Latour going forward. Before I start, my intention is to leave my present commitment in the best possible way, and I will gradually increase my engagement in Latour, for instance by joining some of the boards in Latour’s holdings during 2018”, says Johan Hjertonsson.

“Under the leadership of Jan Svensson, Latour has had a very strong development. The wholly owned industrial operations has undergone a major change, and consists today of internationally successful companies still with high development potential. On top of that, Latour is the principal shareholder in ten listed companies, of which many has been added during Jan Svensson´s time as CEO. The total return for Latour´s shareholders amounts to around 1,500 per cent since he started, almost three times better than other listed companies on average”, say Olle Nordström.

“Our intention is that Jan Svensson, after leaving as CEO and board member of Latour, will remain in the Board for a number of Latour´s listed holdings. The Douglas family, principal owners of Latour, has expressed the wish for a continued co-operation through assigning Jan Svensson as the family’s representative from September 2019 an onwards in the nomination committee of Investment AB Latour”, says Carl Douglas and Eric Douglas in a comment.

 

Göteborg, October 26, 2017

 

INVESTMENT AB LATOUR (PUBL)

Jan Svensson, CEO

 

For further information, please contact:

Olle Nordström, Chariman of the Latour Board, +46 709 40 70 83

Johan Hjertonsson, CEO Latour from September 2019, +46 702 29 77 93

Jan Svensson, CEO Latour, +46 705 77 16 40

 

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 49 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 8 billion in 2016.

 

Categories: People

3i announces three new hires in its Private Equity team

3I

3i announces three new hires in its Private Equity team. The new hires highlight the strength and growth of the business across its core markets in Europe.

Philipp Bruchmann has joined as a Director in the Frankfurt office. Before joining 3i, Philipp was Vice President of Group Corporate Development and M&A Execution at Deutsche Telekom. Prior to this, he was a Principal at Warburg Pincus in Frankfurt and London, where he focused on the German-speaking markets across the TMT and business services sectors.

Jamie Supple has joined as a Senior Associate in the London office. Before joining 3i, Jamie was an Investment Manager at Duke Street, where he focused on the healthcare and services sectors, and prior to that worked in the investment banking team at Hawkpoint Partners in London.

Karel van der Voorden has joined as an Associate in the Amsterdam office. He is a deal team member for Basic-Fit (European discount fitness chain) and Euro-Diesel (manufacturer of power back-up systems. Prior to joining 3i, Karel worked in Morgan Stanley’s Benelux investment banking team in London.

3i’s Private Equity team has had a busy six months, with three new investments, Hans Anders (Benelux), Formel D (Germany) and Cirtec (North America). In addition, a number of its portfolio companies have made strategic bolt-on acquisitions, including Ponroy, ATESTEO and Etanco.

Alan Giddins and Menno Antal, Managing Partners and co-heads of Private Equity, commented:

“We would like to offer a warm welcome to our new colleagues in Frankfurt, London and Amsterdam. Their skills and experience will add greatly to the team as it seeks to identify attractive mid-market investment opportunities across our target markets of Europe and North America.”

-Ends-

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Imogen Harvey
Media enquiries
Tel: +44 20 7975 3027
Email: imogen.harvey@3i.com

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

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